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Colombia housing subsidy program developments

Overview

In Colombia, the ‘Mi Casa Ya’ housing subsidy program, which has supported approximately 368,000 homes since 2015, has faced significant challenges. Following a peak in subsidies between 2021 and 2022, the program encountered budgetary planning issues and new access criteria via Decree 490 of 2023. Under the administration of President Gustavo Petro, the program was previously eliminated due to policy shifts and resource constraints.

To address this, Colombian industry groups Camacol, Asobancaria, and Asocajas, supported by the Inter-American Development Bank, have proposed a roadmap to reactivate the initiative. The plan calls for an 11 trillion peso investment over four years to provide up to 300,000 subsidies. Proponents suggest this public investment could mobilize 61 trillion pesos in total housing investment and potentially generate 1.05 million jobs.

Entities

Viviendas para el Bienestar · Asobancaria · Gustavo Petro · Asocajas · Mi Casa Ya

Timeline

  1. [BUSINESS] 3 sources
    Colombia housing groups propose 11 trillion peso plan to reactivate ‘Mi Casa Ya’

    Colombian industry groups propose an 11 trillion peso investment to reactivate the ‘Mi Casa Ya’ housing program to boost construction and social access, amid broader concerns over national budget allocations.

  2. [BUSINESS] 2 sources
    Housing subsidy programs evolve in Colombia and Mexico

    Housing programs in Colombia and Mexico face different challenges: Colombia's Mi Casa Ya deals with budgetary and regulatory shifts, while Mexico's Viviendas para el Bienestar faces land cost issues.

Sources

alcontacto.com.mx · camacol.co · elnuevosiglo.com.co · pensionpolicyinternational.com · semanariovoz.com